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RWE and its green energy subsidiary Innogy took the top two spots on the Europe-wide Stoxx 600 index on Tuesday morning, after the German utility predicted higher profits this year.

German energy groups including RWE have been battered by Germany’s rapid move to green energy sources, but the company said today that an improved performance from its trading arm and Innogy – which it maintains a 76.8 per cent stake in – would help its profits rise in 2017.

At publication time shares in RWE were up 6 per cent to €14.55, while Innogy shares were up 3.8 per cent to €34.70.

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